Global advanced analytics industry expected to reach over $ 74 billion by 2028

DUBLIN, July 29, 2021 / PRNewswire / – The Advanced Analytics Market Size, Share & Trend Analysis Report By Type (Big Data Analytics, Business Analytics), By Deployment (On-Premises, Cloud), By Company Size, By end use, by region and segment forecast, 2021-2028 “ report was added to ResearchAndMarkets.com offer.

The global advanced analytics market size is expected to reach $ 74.99 billion by 2028, registering a CAGR of 25.7% over the forecast period. Growing use of analytics by incumbents in Retail, IT & Telecom and BFSI, among others, for various functions, such as behavior analysis, recognition of buyer patterns , forecasting demand and optimizing business promotion, is expected to drive the market growth. The outbreak of the COVID-19 pandemic has particularly triggered the adoption of advanced analytics, as incumbents in various end-use industries resort to remote working and subsequently opt for advanced analytics to ensure operational stability. and optimization of business processes by leveraging data-driven decisions. manufacturing. On the other hand, the growth of the IT industry in emerging economies, such as Brazil, Argentina, The Philippines and Egypt, fueled the demand for workflow optimization, which is subsequently pro
ected to stimulate demand for advanced analytics.

Aggressive investments by incumbents from various industries and capital-intensive industrial sectors, such as manufacturing, automotive and pharmaceuticals, in adopting advanced and digitization technologies for process optimization are expected to drive growth of the market during the forecast period. The use of big data analytics in process optimization allows industrial manufacturers to identify variables that affect production quality in real time, rapidly improve the production process and strengthen the supply chain. supply. At the same time, as the demand for predictive solutions increases, market players are aggressively launching cutting-edge analytics software solutions that can be delivered in the cloud. For example, Angoss Software Corporation, SAS Institute, Inc., and International Business Machines Corp., among others, offer their respective advanced analytics software solutions primarily in the cloud.

Advanced analysis emerges as an essential tool for predicting and forecasting exchange patterns, electricity consumption patterns and peak-hour traffic conditions. Advanced analytics can potentially help organizations improve strategic decision making, run operations smoothly, and subsequently increase profitability. Along with incumbents in various industries and verticals, such as military and defense, banking, healthcare, and professional services, government agencies are also aggressively investing in big data analytics. Massive adoption of analytics for processing and protecting large volumes of stored data using cloud services, such as Google Drive and Microsoft OneDrive, is expected to drive market growth.

The outbreak of the COVID-19 pandemic has prompted organizations to reconfigure and reorganize their business operations. In particular, progressive analysis enables companies to reorganize their analytical models and data management processes according to changing business environments. At this point, the measures implemented to contain the spread of the coronavirus, such as closures, restrictions on travel and homework, and remote work policies, coupled with changing end-user behavior, are expected to play a vital role in driving the market growth during the forecast period.

Highlights of the Advanced Analytics Market Report

  • The big data analytics segment accounted for the largest market share of over 30% in 2020. The growing popularity of social media and the growing number of online virtual offices have drastically driven the growth of the segment.
  • The cloud segment is expected to grow over the forecast period as companies can store business data, including procurement data, customer data, and transactional data, in the cloud and adopt advanced analytics based on the cloud to support remote working and enable real-time decision making.
  • Large enterprise segment is expected to experience significant growth during the forecast period as large enterprises focus on improving productivity and efficiency by adopting various advanced analytics solutions, such as analytics business and customer analytics, to efficiently manage large volumes of customer and asset data.
  • The BFSI segment is expected to register a CAGR of 25.1% from 2021 to 2028. The growing need to optimize processes, identify fraudulent transactions and facilitate risk management in banks and financial institutions is expected to drive growth of the market.
  • The Asia Pacific regional market is expected to reach $ 13.33 billion by 2028. As the growing e-commerce industry in countries such as India, China and Singapore, has increased the demand for predictive analytics and demand forecasting, the increasing incidences of fraud in the BFSI industry have also triggered the demand for advanced analytics in the region

Main topics covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Advanced Analysis Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market size and growth outlook
3.3 Advanced Analysis Market – Value Chain Analysis
3.3.1 Supplier landscape
3.4 Advanced Analysis Market – Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1 Increase in the amount of data generated worldwide
3.4.1.2 Growing popularity of online shopping and growing penetration of social networks
3.4.1.3 Growing need to meet industry-specific challenges
3.4.2 Analysis of market challenges
3.4.2.1 Lack of data integration and connectivity
3.4.3 Analysis of market opportunities
3.4.3.1 Growing demand from the BFSI sector
3.5 Mapping of penetration and growth prospects
3.6 Advanced Analysis Market – Porter’s Five Forces Analysis
3.7 Advanced Analytics Market Company Market Share Analysis, 2020
3.8 Advanced Analysis Market – PESTEL Analysis
3.10 Advanced Analysis Market – COVID19 Impact Analysis

Chapter 4 Outlook Advanced Scan Type
4.1 Advanced Analysis Market Share by Type, 2020
4.2 Big data analysis
4.2.1 Advanced Big Data Analytics Market, 2016 – 2028
4.3 Business analysis
4.3.1 Advanced Business Analysis Market, 2016-2028
4.4 Customer analysis
4.4.1 Advanced Customer Analytics Market, 2016 – 2028
4.5 Risk analysis
4.5.1 Advanced Risk Analysis Market, 2016 – 2028
4.6 Statistical analysis
4.6.1 Advanced Statistical Analysis Market, 2016-2028
4.7 Others
4.7.1 Other Advanced Analytics Market, 2016 – 2028

Chapter 5 Deploying Outlook Advanced Scans
5.1 Advanced Analytics Market Share by Deployment, 2020
5.2 On site
5.2.1 Advanced On-Premises Analytics Market, 2016 – 2028
5.3 Cloud
5.3.1 Advanced Cloud Based Analytics Market, 2016-2028

Chapter 6 Advanced Analyzes Company Size Outlook
6.1 Advanced Analysis Market Share by Company Size, 2020
6.2 Large companies
6.2.1 Advanced Analytics Market in Large Enterprise, 2016 – 2028
6.3 Small and medium-sized enterprises (SMEs)
6.3.1 Advanced Analytics Market in SMEs, 2016 – 2028

Chapter 7 Advanced Analysis of End-Use Outlook
7.1 Advanced Analysis Market Share by End Use, 2020
7.2 BFSI
7.2.1 Advanced Analytics Market in BFSI, 2016 – 2028
7.3 Government
7.3.1 Advanced Analytics in Government Market, 2016 – 2028
7.4 Health care
7.4.1 Healthcare Advanced Analytics Market, 2016 – 2028
7.5 IT & Telecom
7.5.1 Advanced Analytics in Information and Telecommunications Technology Market, 2016 – 2028
7.6 Military & Defense
7.6.1 Military and Defense Advanced Analytics Market, 2016 – 2028
7.7 Others
7.7.1 Advanced Analytics in Other End Uses Market, 2016 – 2028

Chapter 8 Regional Perspectives for Advanced Analysis

Chapter 9 Competitive Landscape
9.1 Altair Engineering, Inc.
9.1.1 Company overview
9.1.2 Financial performance
9.1.3 Product Benchmarking
9.1.4 Strategic initiatives
9.2 Fair Isaac Corporation
9.2.1 Company overview
9.2.2 Financial performance
9.2.3 Product Benchmarking
9.2.4 Strategic initiatives
9.3 International Business Machines Corp.
9.3.1 Company overview
9.3.2 Financial performance
9.3.3 Product Benchmarking
9.3.4 Strategic initiatives
9.4 KNIME
9.4.1 Company overview
9.4.2 Financial performance
9.4.3 Product Benchmarking
9.4.4 Strategic initiatives
9.5 Microsoft Corporation
9.5.1 Company overview
9.5.2 Financial performance
9.5.3 Product Benchmarking
9.5.4 Strategic initiatives
9.6 Oracle Corporation
9.6.1 Company overview
9.6.2 Financial performance
9.6.3 Product Benchmarking
9.6.4 Strategic initiatives
9.7 RapidMiner, Inc.
9.7.1 Company overview
9.7.2 Financial performance
9.7.3 Product Benchmarking
9.7.4 Strategic initiatives
9.8 SAP SE
9.8.1 Company overview
9.8.2 Financial performance
9.8.3 Product Benchmarking
9.8.4 Strategic initiatives
9.9 SAS Institut Inc.
9.9.1 Company overview
9.9.2 Financial performance
9.9.3 Product Benchmarking
9.9.4 Strategic initiatives
9.10 Trianz
9.10.1 Company overview
9.10.2 Financial performance
9.10.3 Product Benchmarking
9.10.4 Strategic initiatives

For more information on this report, visit https://www.researchandmarkets.com/r/5zkkf3

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